Lecture Notes: Leasehold and Freehold Management Pack Processing

Overview

• Handling sale involving leasehold management company, freehold management company, or landlord.
• Importance of logging management pack or landlord pack upon receipt.

Steps to Log Management Pack

1. Identify the Pack:

   • Determine whether it's a management or landlord pack.

2. Drag Pack into History:

   • Ensure the complete pack is included.

3. Open Relevant Documents:

   • LPE1 or FME1 forms.
   • Most recent statement of account.

4. Generate Email to Buyer’s Solicitors:

   • Click relevant button to generate email.
   • Manually attach management pack.
   • Include leasehold questionnaires if applicable.

5. Email Attachments:

   • Attach entire email thread and individual attachments.
   • Ensure buyer’s solicitor can open all attachments.

Communication with Client

• Email generated to inform client of pack receipt.
• Modify template if dealing with freehold management or management company pack.

Updating Leasehold Figures

1. Automated Prompts:

   • Confirm if managing agent included payment details.
   • Automatic chasers if details are missing.

2. Use Information from LPE1/FME1 and Account Statement:

   • Input necessary details based on documents.

Leasehold Apportionment Screen

• Input information when logging pack for the first time.

• Areas to consider:

  • Service charges
  • Ground rent
  • Major work arrears
  • Credits due

• Input Dates:

  • Service charge year duration.
  • Payment details and advance status.

• Tick NA for Non-Applicable Sections:

  • Ensure all non-applicable boxes are marked.
  • Check for payments due by seller.

Finalizing the Process

• Confirm all information is entered.
• Click 'Okay' to complete logging.
• Pack is now logged in, date populated, and relevant parties notified.